The Federal Reserve Act
The Federal Reserve Act (in its entirety)Relevant Portions of the Federal Reserve Act:
Section 10A-Emergency Advances to Groups of Member Banks
- Authority of Reserve Banks to Make Advances
- Foreign Obligations as Security for Advances
- Authority of Member Banks to Obligate Themselves
Section 11-Powers of Board of Governors of the Federal Reserve System:
Section 13-Powers of Federal Reserve Banks
- Discount of Commercial, Agricultural, and Industrial Paper
- Discounts for Individuals, Partnerships, and Corporations
- Discount or Purchase of Sight Drafts
- Limitation on Discount of Paper of One Borrower
- Discount of Acceptances
- Banker's Acceptances
- Advances to Member Banks on Promissory Notes
- Regulation by Board of Governors of Discounts, Purchases and Sales
- Advances to Individuals, Partnerships, and Corporations on Obligations of United States
- Receipt of Deposits from, Discount Paper Endorsed by, and Advances to Foreign Banks
- Authority of Federal Reserve Banks to Discount Agricultural Paper
- Rediscounts for, and Discount of Notes Payable to, Federal Intermediate Credit Banks
- Purchase and Sale of Debentures of Federal Intermediate Credit Banks
- Paper of Cooperative Marketing Associations
- Limitations
Section 19-Bank Reserves: